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14 Worst Couponing Mistakes I Made As An Amateur Couponer

14 Worst Couponing Mistakes I Made As An Amateur Couponer

When you first start couponing, it’s easy to get worked up about saving money with coupons. When I take a walk down memory lane, I realize how addicted I was in my earliest days of couponing, watching my balance plummet at the checkout register and thinking how I was saving up every day.

It’s incredibly satisfying and thrilling to witness your coupon printing and clipping efforts make a huge difference in your bank account by the end of the month. While it’s completely normal to be moved by the savings you are gleaning, are you ensuring that you are using your money and time efficiently?

Here are some of the mistakes I made in my early days of couponing that you should avoid if you want to become a couponing master.

1. Buying useless items just because they were a good deal

Every time I head out to purchase something I know I wouldn’t use, I ask myself the following questions: “Do I want to store this item?” and “Do I want to pay sales tax on this item?”

If I answer No to even one of these, the item goes back on the shelf. The only exception is when the item can prove to be lucrative. If the monetary benefit that I would gain by purchasing the product pays for the sales tax, I ask myself if I can donate or gift this item. If I find myself nodding in the affirmative, the product pays for itself and then I usually give it away.

2. Thinking I had to get my hands on every deal

I taught myself a phrase, rather a mantra, that I like to chant every time I fail to visit a store to grab a hot deal: “You win some, you lose some.”

When it comes to scoring great deals and coupons, you’ll win most of the time. However, accepting that you might lag behind at other times helps you keep a good balance in your life!

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3. Failing to sufficiently stock up on items that I use a lot

I am quite dependent on cough drops and Kleenex in the winters. If I didn’t hoard these treasures at every chance I got, I would end up running out of them and purchasing them at a time when their prices are touching ridiculous heights.

Try to make a list of things you use a lot, or might use at a later time, and buy them beforehand when the right deal comes along. Saving for a rainy day always pays off in the long run.

4. Buying unhealthy items because they are moneymakers or free

I gained quite a few pounds in those first few years of recklessly dedicated couponing since all the unhealthy, expensive items that I would normally steer clear of were either moneymakers, free, or cheap. In my enthralling moment of realization that I could afford all the sodas, chips, candies, and cookies that I wanted, I went overboard without realizing how my dietary habits were worsening.

These days, every time I see an item that doesn’t seem healthy, I ask myself, “Is this worth my health?” If the answer is Yes, it ends up in my cart. However, it doesn’t mean that all deals can wreak havoc on your health. I still stock up on candies a month or two before Halloween when the deals are hot and save myself a fortune. To prevent the inevitable, I stash away the candies in my garage!

5. Having a disheveled coupon folder

It would surprise you to know the number of coupons that I have lost or couldn’t find when I needed them the most! After months of staying higgledy-piggledy, I found my own way of staying organized, which has saved me quite a bit of time and money.

Find a system that works for you, be it sorting out the coupons according to their genres, the stores they are applicable at, how soon you would need them, or putting the coupons that are for the same product together in your folder.

6. Not taking all your coupons to the store

Imagine you walk in to a store and find numerable items on clearance shelves that you remember having a coupon for at home. Had you brought your coupon book with you, you would have gotten those items at amazing deals — i.e. as moneymakers or for free.

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As I learned over time, never part with your coupon book whenever you head out. You never know what life might throw your way!

7. Clipping the coupon before getting the item in my cart

Everybody’s couponing system is different. Experience has taught me that clipping the coupons before even setting foot inside the store depletes much of your precious time. This is because oftentimes the deal isn’t as enticing once you see the product in person, the item is at the wrong price, or even worse, the store has run out of it. Save your coupon until checkout time.

8. Buying items that are priced highly or not on my list

I always make for the clearance racks as soon as I enter a store. However, once you are there, randomly pulling items off the shelves that look flashy, useful, or tasty add to your out-of-pocket money.

Now, I’ve learned to stick to my list, and if I suddenly remember something that I needed but forgot to add to my list, I grab the best deal for it there. It saves money and gas to remember what you need at the store when you are there, rather than going home and making a special trip back for it.

9. Being oblivious to the coupon policies of the stores you are shopping at

If a coupon fails to scan, most store clerks will tell you that it’s bad. However, if you have read up on their coupon policy and have it on your phone, you can show it to them and make them call a manager or put your coupon through anyway. This will prevent your hard-earned coupons from being discarded without reason.

10. Using my coupons on larger-sized products

As a rule of thumb, coupons are usually good for products of a certain minimum size and up.

Most money is saved by using coupons on the smallest size of the product that is valid for that coupon. When I want to buy a myriad of items, I buy more newspapers, trade coupons, or print each coupon multiple times.

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11. Not sending in your rebates

If you stumble across an item at a great price with a rebate and somehow forget to send it in, you are letting bucks slip out of your palms. This reminds me of an old adage, “Out of sight, out of mind.”

Until you have submitted the rebate, keep the item close at hand as a constant reminder. Financial laziness is potentially fatal (to your wallet)!

12. Not obeying coupon wordage

In the last decade, especially since the propagation of the show Extreme Couponing, a myriad of policies and restrictions have been imposed on coupons. Throngs of people want to mimic what they see on the show and aspire to do whatever it takes to save big. Some people have even resorted to putting their integrity and honesty on the line for a good deal. However, people like us know it isn’t worth it.

If a coupon is expired, it makes for my trashcan. If a coupon is valid for one per person, I make a habit of taking along a friend or someone else. If a coupon entails that some other item be purchased with it or excludes a certain size of the product, I comply with it.

The couponing industry has lost millions due to erroneous use of coupons, expired coupons, or fraudulent coupons. That said, oftentimes even seasoned couponers fail to read the fine print before sending in a coupon for scanning. It helps to read and re-read the fine print each time to preserve your integrity — “The big print giveth, the small print taketh away.”

13. Purchasing a branded product even if the generic is cheaper

Here is a situation you must be familiar with:

There is a close-out deal when you get to the spaghetti sauce. The generic brand you see is 30 cents cheaper for the same size of Ragu that you wanted to buy using your coupon.

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You may feel the urge to find the pertinent coupon, clip it, and wait as the cashier scans it. However, it is often prudent to restrain your inner coupon-voice of reason. Count your lucky stars that you found something even cheaper and toss it in your cart. Sometimes, you find generic or great last-chance deals that cost even less than the on sale brand name with coupons.

When you are pulling products off the shelves, conduct a quick comparison and pay close attention to weight, quantity, and size. While it’s OK to be loyal to brands, make sure it doesn’t cost you in the long run.

14. Being an inefficient couponer

When you start out with couponing, you might find yourself spending more time and money than needed. It takes time and effort to hone in on your couponing skills. It also costs time, gas, newspapers, and papers to coupon.

A few months into couponing, try to analyze how much money and time you are investing in couponing. Some extreme couponers live highly unbalanced lives, fretting over the next deals and couponing to the extremes. While couponing is highly addictive, just remember that if you aspire to be an efficient couponer, this practical skill can be continued while living a balanced lifestyle as well.

Featured photo credit: Daily Amercian via bloximages.newyork1.vip.townnews.com

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Last Updated on January 2, 2019

How Personal Finance Software Helps You Get More Out of Your Money

How Personal Finance Software Helps You Get More Out of Your Money

Do you know what mental health experts point to as the biggest cause of stress in the United States today? If you said “money,” then ding, ding, we have a winner!

Three out of four adults today report feeling stressed out about money at least part of the time. People are either worried about not having enough money or whether they’re putting the money they do have to use in the best possible way.

Your money is either in charge of you or you’re in charge of it, there’s no middle ground. Using some type of personal finance software can help alleviate some of that money stress and better allow you to manage your money effectively. Without it, you may just be setting yourself up for constant financial worry. Life is already tough enough and there’s no need to make it more difficult by simply hoping your money issues will all work out in your favor. Hint: they won’t.

This guide will help you to understand how personal finance software can better assist with both accomplishing long term financial goals and managing day-to-day aspects of life.

Whether it’s tracking the savings plan for your child’s college fund or making sure you won’t be in the red with the month’s grocery budget, personal finance software keeps all this information in one convenient place.

What Exactly is Personal Finance Software?

Think of it like the dashboard in your car. You have a speedometer to tell you how fast you’re going, an odometer to tell you how far you’ve traveled, and then other gauges to tell you things like how much gas is in the tank and your engine temperature. Personal finance software is essentially the same thing for your money.

When you install this software on your computer, tablet, or smartphone, it helps to track your money — how much is going in, how much is going out, and its growth. Most personal finance software programs will display your budget, spending, investments, bills, savings accounts, and even retirement plans, levels of debt, and credit score.

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How It Leads to Financial Improvement

It shouldn’t come as a surprise, but people who regularly monitor their finances end up wealthier than those who don’t. When you were a kid, keeping track of all of your money in a porcelain piggy bank was pretty easy. As we get older, though, our money becomes spread out across things like car payments, mortgages, retirement funds, taxes, and other investments and debts. All of these things make keeping track of our money a lot more complicated.

Some types of personal finance software can help make things a little less complicated, setting you up to meet financial goals and taking away some of the stress associated with money.

Even if you already have a Certified Financial Planner (CFP) some type of personal finance software can be of great benefit. Whereas CFPs focus on the big picture of your money, they don’t handle the day-to-day aspects that determine your overall financial health.

It’s also not nearly as complicated as you might think and can take out a lot of the tedium that comes with doing everything on an Excel spreadsheet or with a pad and pencil.

Types of Personal Finance Software

When it comes to personal finance software, it generally fits into two categories: tax preparation and money management.

Tax preparation software such as Turbo Tax and H&R Block’s software can help with everything from filing income taxes to IRS rules and regulations and even estate plans. Plus, there’s the benefit of filing online and getting your refund check a lot faster than if you were to mail off your forms after waiting in line at the post office.

For the purpose of this article, however, will be focusing more on the personal finance software that aids with money management.

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Money management personal finance software will help you to see the health of your cash flow, pay down debt, forecast for expenses and savings, track investments, pay bills, and do a host of other things that 30 years ago would have practically required a team of accountants.

When to Use Personal Finance Software

So far we’ve gone over what exactly personal finance software is and how it can be a benefit to your money. The next logical step in this whole equation is determining when it should be used and how is the best way to go about getting started using it.

Below are four of the most common and practical ways to use personal finance software. If all or any of these apply to you and your money, then downloading some type of personal finance software is going to be a smart move.

1. You Have Multiple Accounts

There’s a good chance that when it comes to your money, it’s in more than one place. Sure, you probably have a checking account, but you may also have a savings account, money market account, and retirement accounts such as an IRA or 401k.

If you’re like the average American, you probably have two to three credit cards as well. Fifty percent of Americans also don’t have loyalty to just one bank and spread their money across multiple banks.

Rather than spending hours typing in every detail of every account you have into a spreadsheet, many programs allow you to easily import your account information. This will help to eliminate any mistakes and give you a bird’s eye view of everything at once.

2. You Want to Automate Some or All of Your Payments

Please don’t say that you’re still writing out paper checks and dropping each bill in the mailbox. While it’s noble that you’re doing your part to keep postal workers employed, we’re 18 years into the 21st century and you can literally pay every bill online now.

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There’s no need to log into every account you have and type in your routing number either.

With personal finance software you can schedule automatic payments and transfers between all of your imported accounts. Automatic transfers will help to make sure you have the necessary funds in the right account to ensure all bills are paid on the appropriate date. Late fees are annoying and do nothing but cost you money. It’s time that you said goodbye to them once and for all.

3. You Need to Streamline Your Budget

Perhaps the best feature of personal finance software is that it allows you track everything going in and out of your virtual wallet.

Nearly every brand of personal finance software out there has easy-to-read graphs and charts that allow you track every cent you spend or earn, should you choose. You might be pretty amazed when you see just how much you spent on eating out last month or if you splurged a little more than you should have on Christmas gifts last year.

Every successful business on the planet has a budget and using personal finance software can help you trim the fat on your spending in ways that affect your everyday life.

4. You Have Specific Goals to Meet

Maybe it’s paying off debt or saving for up something like a European vacation. Whatever your financial goal is, whether it’s long-term or short-term, personal finance software programs are one of the savviest ways to go about reaching those goals.

You can do everything from set spending alerts to notify you when you’re over budget to automating what percentage of your paycheck goes to things like retirement investments. The personal finance software that you choose should show you exactly how close you are to hitting those goals at any given time.

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How to Get Started

From AceMoney to Mint and Quicken, there ’s no shortage of personal finance software apps out there. Many of these programs are free to download and will allow you to pay bills, invest, monitor your net worth and credit profile, and even get a loan with the swipe of a finger.

Other programs may only offer you limited services and will require a one-time fee or subscription to unlock all that they offer. These fees can often vary from as little as two dollars to 50 bucks a month.

It’s best to start off with the free version and then gauge whether you’re able to accomplish everything you’d like or if it’s worth exploring one of the paid options. Often times the subscription programs come with assistance from financial planning and investment experts — so that can be a real benefit.

When deciding which personal finance software program to use, it’s also important to look at how many accounts you wish to monitor. Certain programs limit the number of accounts you can add. Be sure that if you have checking, credit card, and investment accounts to monitor, that you choose a service that can monitor them all.

Finally, when looking around for the right personal finance software that meets your needs, make sure that you’re comfortable with the program’s interface. It shouldn’t be expected that you recognize every single feature instantly, but if the features don’t seem readable and manageable to you, then you’re not as likely to use it and get the full benefits.

Final Thoughts

Personal finance software can go a long way in helping you to take control of your money and meeting your financial goals. It’s important to note, however, that some focus more on budgeting and expense tracking while others prioritize investing portfolios and income taxes. Explore several different programs and read reviews to find the one that’s right for you.

In this day and age, managing one’s personal finances in a secure manner that allows the user to have a real-time visual representation of their money is easier than ever before. With the numerous applications that are out there — both free and subscription-based — there’s no reason that every person can’t take control of their money and ensure they’re making smart money moves.

Featured photo credit: rawpixel via unsplash.com

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